It's a 5MP camera for still photos, limited to 720p for video--although the data sheet says it can do 1080p as well. Perhaps that's bottlenecked elsewhere in the system.
10x reduction from raw to jpg is not what worries me (provided decent-ish computing power) as much as that this is a theoretical maximum under lab conditions. When has any wireless technology ever delivered?
When 802.11n 300mbps was the hot thing that made LAN obsolete, you'd be happy to get 60 megabits (which is still plenty for most purposes, don't get me wrong, but it isn't 300). Bluetooth is more resilient due to spectrum hopping that I wish newer WiFis had taken over (no more channel madness where you either have to coordinate with 3d neighbors or, on auto, might have good and bad days; everything just uses the whole spectrum as efficiently as possible), but I still doubt you'll have one fps stable.
So video compression is going to have to get more than ~10x reduction to fit into 2Mb/s and that's just 1 frame/sec.